There is a wide variety of basic legal formats for structuring a Business Organization. Each type has its own special characteristics, uses and limitations. The proprietorship, partnership, and corporation are the most popular and well known. A newer but increasingly popular form of business organization is a limited liability company. The principal characteristics of all these types are described in this section.

Should I hire a lawyer?

Are you planning on forming a corporation or partnership? An attorney can avert a lot of legal issues that can arise with forming these types of businesses and he or she can advise you on the best business formation for your needs. An attorney can also help research any possible intellectual property issues and issues relating to hiring employees, tax issues and other legal matters that can arise with forming and running a business.